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What is the final, remembering phase of Williams' filtering process?
GAAP
Generally Accepted Accounting Principles, which are a set of rules and standards used in the United States for financial reporting.
Accounts Payable
Liabilities of a business that are owed to creditors for goods and services purchased on credit.
Inventory
The raw materials, work-in-process products, and finished goods that a company holds for the purpose of sale in the near future.
Net Loss
A situation where total expenses exceed total revenues during a specific period, resulting in negative profit.
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